Liquidation of the Issuer Sample Clauses

Liquidation of the Issuer. (i) Upon a liquidation or winding up of the Issuer or First Shurgard (the current parent company of the Issuer) prior to the payment of the accrued Unused Fee and interest in accordance with Clause 5.2.4, the Subscriber shall receive an amount equal to 115% of the sum of the unpaid accrued Unused Fee and interest (the “Unused Fee Liquidation Preference”) at the time of the liquidation. Unless waived by the Subscriber, a change of control over the Issuer or First Shurgard, a consolidation, merger or sale of all or substantially all of the assets of the Issuer or First Shurgard shall be treated as a liquidation unless the Issuer’s Shareholders or the current shareholders of First Shurgard hold a majority of the voting power of the surviving entity. (ii) Notwithstanding Clause 5.2.6(i), no Unused Fee Liquidation Preference shall be paid to the Subscriber prior to the repayment in full of all amounts due by the Issuer under the Senior Credit Agreement.
View SourceView Similar (4)
Liquidation of the Issuer. 8.1 Upon a liquidation or winding up of the Issuer or First Shurgard (the parent company of the Issuer on the date of the Subscription Agreement) prior to the redemption of the Additional Mezzanine Bonds, Additional Mezzanine Bondholders shall receive an amount equal to 115% of the sum of the principal amount of the outstanding Additional Mezzanine Bonds and accrued and unpaid interest (the “Liquidation Preference”) at the time of the liquidation. Unless waived by the Additional Mezzanine Bondholder, a change of control over the Issuer or First Shurgard, a consolidation, merger or sale of all or substantially all of the assets of the Issuer or First Shurgard shall be treated as a liquidation unless the Issuer’s Shareholders or the current shareholders of First Shurgard hold a majority of the voting power of the surviving entity. 8.2 Notwithstanding Clause 8.1, no Liquidation Preference shall be paid to the Additional Mezzanine Bondholders prior to the repayment in full of all amounts due by the Issuer under the Senior Credit Agreement.
View Source

Related to Liquidation of the Issuer

  • Dissolution of the Issuer Upon dissolution of the Issuer, the Administrator shall wind up the business and affairs of the Issuer in accordance with Section 9.2 of the Trust Agreement.

  • Liquidation of the Company The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company in the event that the Company fails to consummate a Business Combination within the time period specified in the Prospectus.

  • Liquidation of Company The Company shall give the Escrow Agent written notification of the liquidation and dissolution of the Company in the event that the Company fails to consummate a Business Combination within the time period(s) specified in the Prospectus.

  • Dissolution Liquidation and Termination of the Company Section 8.1 Events Causing Dissolution. -------------------------- The Company shall dissolve upon and its affairs shall be wound up after the happening of any of the following events: 8.1.1 the Consent of all of the Members; 8.1.2 the sale or other disposition by the Company of all or substantially all of its assets; or 8.1.3 the entry of a decree of judicial dissolution under Section 18-802 of the Act.

  • Merger or Consolidation of the Depositor The Depositor will keep in full effect its existence, rights and franchises as a corporation or federally chartered savings bank, as the case may be, under the laws of the United States or under the laws of one of the states thereof and will each obtain and preserve its qualification to do business as a foreign corporation in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, or any of the Mortgage Loans and to perform its respective duties under this Agreement. Any Person into which the Depositor may be merged or consolidated, or any Person resulting from any merger or consolidation to which the Depositor shall be a party, or any person succeeding to the business of the Depositor, shall be the successor of the Depositor, as the case may be, hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding.